A Single Bitcoin will Worth $100K - Do You Believe it?

[howardb]

Ultimately, reserve currency needs to be either backed by either gold or military might.

Bitcoin has neither. It will useful for small/medium size foreign purchases to save conversion and transaction fee. Other than that, I do not see it being useful for any other purpose.

Interesting statement, but unless you back it with reasoning it's just another opinionated throwaway line?

[Bizmark13]

Venture capitalist Chris Dixon at Andressen Horowitz predicted that a single bitcoin will worth $100k+ in the future. I'm optimist but I think that's is way too much!

Read Full Article: Bitcoin Worth Prediction

I think the general rule is that if Bitcoin reaches the same status/market cap as that of gold, then each coin would be worth roughly $333,000 in today's fiat terms. If Bitcoin manages to replace fiat completely, then each coin would be worth about $1 million.

$100,000 per bitcoin would indicate a market cap of $2.1 trillion.

[fdiini]

Ultimately, reserve currency needs to be either backed by either gold or military might.

Bitcoin has neither. It will useful for small/medium size foreign purchases to save conversion and transaction fee. Other than that, I do not see it being useful for any other purpose.

Interesting statement, but unless you back it with reasoning it's just another opinionated throwaway line?

All statements are certainly my own view.

If you need to quote source and data on every statement you make on this forum, you won't have time for anything else.

[ajareselde]

Venture capitalist Chris Dixon at Andressen Horowitz predicted that a single bitcoin will worth $100k+ in the future. I'm optimist but I think that's is way too much!

Read Full Article: Bitcoin Worth Prediction

it is quite possible to reach 10k within 2 years, and later who knows, you cant realy predict further than that.
we still didnt experience the power of global marketing, and also we are still in the early phase where errors and corrections are fixed "on the fly", which needs to be given much more attention.

[spazzdla]

Ultimately, reserve currency needs to be either backed by either gold or military might.

Bitcoin has neither. It will useful for small/medium size foreign purchases to save conversion and transaction fee. Other than that, I do not see it being useful for any other purpose.

Military might.. this is the wealth of wealth.  With this a group of people or a person can take everything and anything and deem paper more valuable than gold.
Only issue is.. eventually the game of people accepting shit tickets as something of value comes to a crashing end when the military runs low on funds and cannot enforce the use of the shit tickets..

IMO sooner than later a country with a decent army will back it's currency with something of value(for like 10-20 years before starting the ponzi scheme again) the Federal reserve note will become useless, Merica's army will be crippled an well... I hope you don't plan on living in the Fema state.

[leex1528]

it is quite possible to reach 10k within 2 years, and later who knows, you cant realy predict further than that.
we still didnt experience the power of global marketing, and also we are still in the early phase where errors and corrections are fixed "on the fly", which needs to be given much more attention.

I still don't think that is possible, but I would absolutely love it if it did.  I don't even think experts can predict what will happen in 2 weeks let alone 2 years. 

Don't get me wrong though, if this happened I would be absolutely thrilled!

[Ibian]

it is quite possible to reach 10k within 2 years, and later who knows, you cant realy predict further than that.
we still didnt experience the power of global marketing, and also we are still in the early phase where errors and corrections are fixed "on the fly", which needs to be given much more attention.

I still don't think that is possible, but I would absolutely love it if it did.  I don't even think experts can predict what will happen in 2 weeks let alone 2 years.  

Don't get me wrong though, if this happened I would be absolutely thrilled!

Something I noticed is that most people either think in the short term or the long term. Successful daytraders are good at predicting what the price will be in an hour, tomorrow or in a week but most of them don't have a long term perspective. Others can clearly see the long term picture but have no idea what the price will be tomorrow. So it's not really a matter of one being easier than the other but of some people being specialized in different timeframes.

[Benjig]

it is quite possible to reach 10k within 2 years, and later who knows, you cant realy predict further than that.
we still didnt experience the power of global marketing, and also we are still in the early phase where errors and corrections are fixed "on the fly", which needs to be given much more attention.

I still don't think that is possible, but I would absolutely love it if it did.  I don't even think experts can predict what will happen in 2 weeks let alone 2 years.  

Don't get me wrong though, if this happened I would be absolutely thrilled!

Something I noticed is that most people either think in the short term or the long term. Successful daytraders are good at predicting what the price will be in an hour, tomorrow or in a week but most of them don't have a long term perspective. Others can clearly see the long term picture but have no idea what the price will be tomorrow. So it's not really a matter of one being easier than the other but of some people being specialized in different timeframes.

Triying to day trade bitcoin is gambling.. unless you know are in a clearly bullrun.. and sometimes not even in those possitions.

[leex1528]

I guess I don't think people can guess anything.  A lot of it has to due based on something they know the public doesn't know.  Which makes it not a guess.

Or they guess and get lucky.

I mean if all of these traders were as good as anyone thinks.  You should be able to almost double your money everyday.  After 1 month you should be able to retire a millionaire...

Just my thoughts

[Ibian]

Most of them lose money. Just as a lot of people lose their nerve on long time investing. But it is possible for some.

[ThatDGuy]

it is quite possible to reach 10k within 2 years, and later who knows, you cant realy predict further than that.
we still didnt experience the power of global marketing, and also we are still in the early phase where errors and corrections are fixed "on the fly", which needs to be given much more attention.

I still don't think that is possible, but I would absolutely love it if it did.  I don't even think experts can predict what will happen in 2 weeks let alone 2 years. 

Don't get me wrong though, if this happened I would be absolutely thrilled!

I've watched Bitcoin for a long time now and owned some for a bit less time, but long enough to know that the actual possibilities have already exceeded what I thought was possible a few times over.

I no longer have too many concrete expectations for it, but +$10k in less than two years would not be surprising to me.

[williamj2543]

I am currently just holding my bitcoins, because in theory once the limit of the amount of bitcoins is reached, demand will indefinitely go up, increasing the price. Although I think that in the future bitcoin will need to stay at more or less a stable fixed price like CAD or USD. People don't want to randomly lose 25% of their entire bank account, and then have it go up later. Holding money shouldn't be gambling.

[unpure]

How could it possibly go to 100k when both US and China trying to discourage its usage?

[bananaControl]

How could it possibly go to 100k when both US and China trying to discourage its usage?

Care to back that up with some documentation?

[Icardi09]

if china and US can accept bitcoin as their secondary currency
we'll see that price
but since FuckingED can't print bitcoin, they won't do that
i'll believe $100k when i see $10k first and mass adoption of BTC happen

[Benjig]

How could it possibly go to 100k when both US and China trying to discourage its usage?

China probably but the us? thats was a good joke, if US would like to discourage its usage, they had destroyed the bitcoins they got from SR not auctioning them, they would be proving by an example that bitcoin is not good.

[Ibian]

How could it possibly go to 100k when both US and China trying to discourage its usage?

China probably but the us? thats was a good joke, if US would like to discourage its usage, they had destroyed the bitcoins they got from SR not auctioning them, they would be proving by an example that bitcoin is not good.

Destroying them would just increase scarcity, thus driving price up. Sadly they were not so kind.

[leex1528]

Well I doubt that it would be worth that much ever.  I mean everyone would start mining bit coins, if you could spend 7000 dollars and mine 1 bit coin over a month or something, it would easily be worth it.  Hell could retire quickly...

[Biodom]

the price of Bitcoin is exceeding 64 bitcorns on the last day of June..
A nice prediction by a sad uni professor (Mr. Willams) that 1BTC=1bitcorn ($10) in June 2014
I think that he is to be make fun off until the end of bitcoin...

[bananaControl]

Well I doubt that it would be worth that much ever.  I mean everyone would start mining bit coins, if you could spend 7000 dollars and mine 1 bit coin over a month or something, it would easily be worth it.  Hell could retire quickly...

You are not thinking it through. Think harder.